The study aims to offer a clear and suggestive view of the stage in which we can find the Romanian economy in terms of performance of the main objective of the macroeconomic policy–ensuring the price stability In the context of an unstable economic environment, one of the reasons for choos-ing...

This paper aims to contribute to the empirical literature on the interaction between monetary and fiscal policy. We consider the impact of monetary and fiscal policy shocks on inflation and output dynamics using a Time-Varying Parameter Factor-Augmented VAR (TVP-FAVAR). In baseline results from...

What are the macroeconomic consequences of a government that is limited in its willingness or ability to raise primary surpluses, and a central bank that accommodates its interest-rate policy to the fiscal conditions? I address this question in a dynamic stochastic sticky-price model with...

After introducing digital currency, the central bank emerges as a monopolist bank. It then faces an "impossible trinity". To achieve price stability and financial stability, optimal consumption allocation is sacrificed. In this paper, I show that fiscal policy designed in coordination with the...

The current economic situation forces the governments to find solution how to promote economic growth. Economic theory suggests that differences in taxation may play a role in explaining differences in economic performance. The paper summarizes common features tax related measures used to...

This paper revives the question of whether a temporary VAT change is an adequate instrument for crisis stabilization. In empirical assessments, we find that durable goods consumption fluctuates strongly over the business cycle and that VAT rate changes affect durable goods in particular....

The objective of this paper is to identify the months in which more products and services are consumed in Mexico with the Value Added Tax (VAT), using the percentage change ratio (collection speed / month) based on the information for the year 2003 and until the month of August 2015. For each of...

The objective of this paper is to identify the months in which more products and services are consumed in Mexico with the Value Added Tax (VAT), using the percentage change ratio (collection speed / month) based on the information for the year 2003 and until the month of August 2015. For each of...

The objective of this essay is to examine and explain possible drawbacks of the goods and services tax (GST) introduced in India on July 1, 2017. To get a comparative picture of its vulnerability to tax evasion, data for the OECD countries in the 1990s and also the Indian state VAT earlier this...